Is a $10K Surge Coming? Ethereum Exchange Balance Drops to 9-Year Low? - Cryptolandoff

Is a $10K Surge Coming? Ethereum Exchange Balance Drops to 9-Year Low?

Ethereum has dropped to its lowest level since July 2016 with exchange reserves of 18.95 million.

This drop implies that investors are putting ETH in cold storage, which is indicative of long-term holding plans.

If the $2,800 resistance is broken, there may be large short liquidations, which would raise prices.

The value proposition of ETH may be improved by the launch of staking-enabled Ethereum ETFs, which might further reduce the liquid supply.

According to analysts, Ethereum's price may approach $10,000 because to persistent demand and decreased supply.